United States

A&L Goodbody advises on ICAV conversion

A&L Goodbody is pleased to have advised on one of the first Central Bank of Ireland approved conversions of an existing investment company, to Ireland's newest corporate investment structure, the Irish Collective Asset-management Vehicle (ICAV). The ICAV is tailored specifically for use by the funds industry and has the ability to be treated as a partnership for US tax purposes, thus allowing it to elect its classification under the US ‘check-the-box’ taxation rules. It also has a number of administrative advantages over an investment company. The ICAV Act 2015 was signed into law in March of this year. You can read more about the ICAV here.